Income-Generating Multifamily
403 Terrell Avenue San Antonio, TX 78214
403 Terrell Avenue, San Antonio, TX, 78214
$480,000
For Sale
$480,000
Seven-unit multifamily with studio, one- and two-bedroom layouts, with on-site parking and select unit updates.
Property Size2,599 SF
Price / SF$184.69
Days on Market288
Property Features for 403 Terrell Avenue
General Information
- Standard status
- Active
- Size
- 2,599 SF
- Property subtype
- Multi-Family / One Story
Building Details
- Year Built
- 2003
Listing agency
Keller Williams Heritage
(210) 365-6192
Listed by
Scott Malouff · License #658231
(210) 365-6192
Source
Compass
Added: Oct 8, 2025 Updated: Jul 20 at 11:48PM Checked: Jul 21 at 6:23AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Heritage
Investment Insights
Based on property information with market context.
403 Terrell Avenue is a seven-door multifamily property offering a mix of studio, one-bedroom, and two-bedroom layouts. Several units have been updated with fresh paint, flooring, and modern finishes, supporting an easier path for an owner seeking a more turnkey residential income asset.
The property sits on a spacious lot with on-site parking. It also provides easy access to major regional routes, including IH-35, Highway 90, and Loop 410, connecting residents to destinations across San Antonio.
As structured, the unit mix is designed to serve a range of household needs within the same building, giving the property a practical approach to tenant attraction and retention through variety of apartment types.
The property sits on a spacious lot with on-site parking. It also provides easy access to major regional routes, including IH-35, Highway 90, and Loop 410, connecting residents to destinations across San Antonio.
As structured, the unit mix is designed to serve a range of household needs within the same building, giving the property a practical approach to tenant attraction and retention through variety of apartment types.
Key Highlights
- 7‑door multifamily property with studio, 1‑bedroom, and 2‑bedroom layouts
- Year built: 2003; slab foundation
- Several units updated with fresh paint and flooring
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $51.5k | $19.80 |
| − Vacancy | −$3.2k | −$1.23 |
| EGI | $48.3k | $18.57 |
| − OpEx | −$21.7k | −$8.36 |
| NOI | $26.5k | $10.21 |
2,599 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$379.3K
$331.9K – $442.5K
NOI $26,548 @ 7.0% cap · market cap 5.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$663.0K
$580.1K – $773.5K
NOI $46,407 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Seven-unit multifamily with studio, one- and two-bedroom layouts, with on-site parking and select unit updates.
Where is this apartment building located?
The property is located at 403 Terrell Avenue San Antonio, TX.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: 7‑door multifamily property with studio, 1‑bedroom, and 2‑bedroom layouts; Year built: 2003; slab foundation; Several units updated with fresh paint and flooring
